Lego sales rose 13 in first half of 2024
The company grabbed market share in a flat toy market
CEO expects doubledigit fullyear sales growth
Lego holds back on store openings in China

COPENHAGEN, Aug 28 Reuters Lego39;s sales of its colorful plastic bricks outpaced the overall toy market in the first half of the year, driven by strong demand in Europe and North America, the Denmarkbased toymaker said on Wednesday.

The surge in Lego39;s sales contrasts with a stagnating global toy market and tepid sales for rivals such as Barbiemaker Mattel and Hasbro, the firm behind My Little Pony.

The familyowned Lego company said sales from January through June rose 13 to 31 billion Danish crowns 4.65 billion. By comparison, Lego increased firsthalf sales by 1 last year and 17 in 2022, year over year.

We have performed significantly better than the overall toy market and have grabbed market share at a fairly high pace, CEO Niels Christiansen told Reuters.

The global toy market has stagnated this year following a 7 decline in sales last year, he said.

Lego39;s operating profit rose 26 to 8.1 billion crowns.

Following the strong start to the year, Christiansen now expects doubledigit sales growth in 2024, compared with earlier guidance of singledigit growth.

The company plans to open around 100 stores this year, slightly fewer than in previous years, bringing the total number of stores above 1,100.

We are opening slightly fewer stores in China right now because we see…